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2. (10 pts) A 30-year bond pays interest semiannually, has a par value of $1,000, a coupon rate of 15%, and has 20 years until

2. (10 pts) A 30-year bond pays interest semiannually, has a par value of $1,000, a coupon rate of 15%, and has 20 years until maturity. Bonds of similar risk are discounted at a market rate of 7%. What is the intrinsic value of the bond

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